July 30, 2012 – NCUA on Friday assumed control of the $4-million-in-assets Trinity CU of Trinidad, Colo., but members are able to continue to deposit and access funds, make loan payments and use the credit union’s services.
The state-chartered, federally insured credit union was placed into conservatorship by the Colorado Division of Financial Services due to a declining financial condition. NCUA was appointed as conservator.
NCUA said it will work to resolve issues affecting the institution’s safety and soundness while normal member services continue uninterrupted. Trinity CU serves the residents of Colorado’s Las Animas County.
The NCUA Board is authorized to accept appointment as conservator when necessary under The Federal Credit Union Act.
Trinity CU is the fourth federally insured credit union placed into conservatorship this year, NCUA said.